5 Cheap Cars That Will Keep You Safe on the Road
Written by
Yaël Bizouati-Kennedy
Edited by
Cory Dudak
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Finding cheap cars can be tricky, especially in the current market. Inflation, soaring rates and ongoing strikes — which might contribute to low inventory — are all putting pressure on prices. As Consumer Reports explained, the cheapest ones can be found by looking at actual transaction prices instead of the price listed.
“That’s because in this roller-coaster car market, it’s common to see lower-priced models selling for more than their sticker price,” according to Consumer Reports. And as further noted, as car loan interest rates are now averaging well over 6%, this can mean significant long-term costs.
In turn Consumer Reports compiled a list of cheap cars — starting at $22,867. They are ranked based on actual transaction price, and not the manufacturer’s suggested retail price (MSRP). Here are the top five, which also meet Consumer Reports’ standards for road-test performance, owner satisfaction, reliability and safety.
1. Toyota Corolla
- Average transaction price: $22,867
- MSRP: $21,700
2. Nissan Kicks
- Average transaction price: $23,642
- MSRP: $22,450
3. Subaru Impreza
- Average transaction price: $24,005
- MSRP: $23,195
4. Toyota Corolla Hybrid
- Average transaction price: $24,190
- MSRP: $23,050
5. Toyota Corolla Hatchback
- Average transaction price: $24,389
- MSRP: $23,155
According to Consumer Reports, nine of the 10 featured models on the list are selling for more than their sticker prices.
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